Auto component manufacturer Rane (Madras) Ltd Q1 net up 26.2 pc at Rs 4.61 cr
Auto component manufacturer Rane (Madras) Ltd, part of the Rane Group, reported 26.2 per cent jump on net profit for the first quarter ending June 30, 2011.
By PTI |
CHENNAI: Auto component manufacturer Rane (Madras) Ltd, part of the Rane Group, reported 26.2 per cent jump on net profit for the first quarter ending June 30, 2011.
The city-headquartered company reported PAT at Rs 5.82 crore, up by 26.2 per cent from Rs 4.61 crore registered during the same period last year.
Sales and operating revenues during the quarter grew to Rs 153.66 crore from Rs 131.54 crore during the same period of previous year, a company statement here said.
"In first quarter of the current fiscal, production by all Original Equipment Manufacturers in the auto industry grew by about 20 per cent in comparison with the corresponding quarter of last year, resulting in corresponding growth in customer demand.
However, continuous increase in interest costs is a matter of concern", Rane Group Chairman L Ganesh said.
The city-headquartered company reported PAT at Rs 5.82 crore, up by 26.2 per cent from Rs 4.61 crore registered during the same period last year.
Sales and operating revenues during the quarter grew to Rs 153.66 crore from Rs 131.54 crore during the same period of previous year, a company statement here said.
"In first quarter of the current fiscal, production by all Original Equipment Manufacturers in the auto industry grew by about 20 per cent in comparison with the corresponding quarter of last year, resulting in corresponding growth in customer demand.
However, continuous increase in interest costs is a matter of concern", Rane Group Chairman L Ganesh said.
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